Adani Green Energy (AGEL), the renewable energy arm of billionaire Gautam Adani’s conglomerate, has withdrawn from two proposed wind power projects in Sri Lanka following the new government’s decision to renegotiate tariffs.
In a statement, the company said, “Adani Green Energy has conveyed its Board’s decision to respectfully withdraw from further engagement in the renewable energy (RE) wind energy project and two transmission projects in Sri Lanka.”
The firm had planned to invest USD 1 billion in generating electricity from wind at two projects and laying transmission lines to distribute the power.
“However, we remain committed to Sri Lanka and are open to future collaboration if the government of Sri Lanka so desires,” AGEL stated.
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